Managers of Wealth Middle East -Wealth, private banking and asset management news and opinion

Abu Dhabi exchange ADX turned into a public joint shares company

Abu Dhabi Securities Market (ADX) has been converted into a public joint shares company owned by a state entity ADQ, according to an Abu Dhabi government tweet

Egypt to pay pensioners five allowances

The variable wage rate will be resettled by adding 80% of the private allowances

Investor becomes shareholder in Xinja Bank

Xinja Bank founder and CEO Eric Wilson said he believed this was the largest single investment in an Australian neobank or start-up.

Emirate of Sharjah lists US$200 million Sukuk on Nasdaq Dubai

The Emirate of Sharjah’s latest $200 million Sukuk was listed on 19th March 2020.

Misr Life Insurance accepts premium payments through electronic platforms

Misr Insurance Holding Company and its subsidiaries urge its customers to carry out their insurance dealings through electronic payment and digital applications

EFG Hermes concludes advisory on Al Habib Group’s $700 million IPO

The transaction saw the group offer 52.5 million shares (representing 15% of its share capital) to investors at SAR 50.00 per share.

New Report Exposes Nigerians Owning Property in Dubai

The report, according to its author, is based largely on private data compiled by UAE-based real estate and property professionals.

Azizi Developments' website traffic surges 45%

Azizi's construction is progressing swiftly with operations being unaffected by the current global situation

Emaar Group adopts work-from-home policy for employees

Remote-work policy, effective from Monday, is in line with country's 'Stay at Home' campaign

Dubai’s Rise raises $1.4 million investment to provide financial services to low-income migrants in Gulf

Rise claims to have grown over 50 percent month-on-month and brought over $125 million of annualized income into the financial services sector.

Abu Dhabi Securities Exchange to provide free of charge remote e-voting for Annual General Meetings of listed companies

This move will enable a crucial aspect of AGMs to be carried out remotely and will apply to AGMs taking place from the 17th of March until the end of April 2020

Foreign funds’ enhanced buy interests lift Qatar bourse

The weakened net selling pressure from non-Qatari and the Gulf individuals also had its influence on the market, whose year-to-date losses were trimmed to 16.92%.

Foreign property buyers in UAE to slow down, as coronavirus travel restrictions intensify

Real estate sector remains resilient so far, according to Savills

Gulf markets hammered by oil price plunge and virus shutdowns

Saudi Aramco has dipped 12 percent since March 1 and its market value has dropped to $1.57 trillion.

Banking and property stocks propel UAE markets

Abu Dhabi stocks gain 8% led by banks

After Lebanon, where next? Emerging markets look for weak links

Record amounts of cash have been pulled out of emerging markets

DriveWealth signs UAE-based WealthFace

Wealthface Founder & CEO Bilal Majbour stated: "Our partnership with DriveWealth is a significant manifestation of our vision to make the U.S. equity market accessible to everyone everywhere.

UAE's SHUAA forecasts $13.6mln annual synergies from ADFG merger by Q2 2021

SHUAA's assets under management reached $14bln in 2019, up 15% year-on-year

NMC Health reassures staff on salary payments

UAE's largest hospital operator also reassures staff about prompt salary payments

Govt's financial package announcement lifts QSE above 8,400 levels

There was increased net buying from domestic institutions in the market, whose year-to-date losses were trimmed to 19.13%.

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